10 June 2010
the profit for 1998-1999 are rs. 2000; for 1999-2000 is rs. 26100; and for 2000-2000 is rs 31200. closing stock for 1999-2000 and 2000-2001 includes the defective items of rs. 2200 and rs. 6200 respectively which were considered as having market value NIL. calculate goodwill on average profit method.
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